What is the importance of trade barriers for the government?
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The most common barrier to trade is a tariff—a tax on imports. Tariffs raise the price of imported goods relative to domestic goods (goods produced at home). Another common barrier to trade is a government subsidy to a particular domestic industry. Subsidies make those goods cheaper to produce than in foreign markets.
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Trade barriers help the Government to regulate foreign trade and to decide what kind of goods and how much of each should come into the country.
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Trade barriers help the Government to regulate foreign trade and to decide what kind of goods and how much of each should come into the country.
✨✔️HOPE IT HELPS YOU....
✌✌
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